Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar Up, But Near Three-Week Low as Investors Buy Fed’s Dovish Stance

ForexApr 15, 2021 01:12AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – The dollar was up on Thursday morning in Asia but was holding near a three-week low. U.S. bond yields pulled back from March's surge as the U.S. Federal Reserve continues to insist that interest rates can stay low.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.01% to 91.685 by 13:05 AM ET (5:05 AM GMT), after slipping to a four-week low overnight.

The USD/JPY pair inched down 0.04% to 108.87, slipping below the 109 mark.

The AUD/USD pair edged down 0.12% to 0.7711 while the NZD/USD pair inched up 0.07% to 0.7143.

The USD/CNY pair edged up 0.16% to 6.5398 while the GBP/USD pair inched down 0.07% to 1.3769. China will release GDP, industrial production and fixed asset investment data on Friday.

The euro traded at $1.19845, near its highest level in four weeks and has gained 2.2% so far in April.

"The dollar has been losing steam a bit in line with falls in U.S. bond yields as the Fed has maintained its dovish stance," Nomura Securities chief currency strategist Yujiro Goto told Reuters.

The Fed has repeatedly pledged to keep interest rates low, which has helped stabilize U.S. bonds. The benchmark ten-year U.S. bond yields eased to 1.636% on Thursday but were well below the 14-month peak of 1.776% hit in late March.

Although some investors remained concerned that the Fed could change its tune later in 2021 should inflation readings climb much higher than expected, they seem to be taking the central bank at its word for now.

Fed Chairman Jerome Powell said that the Fed will reduce its monthly bond purchases before committing to an interest rate increase in his speech at the Economic Club of Washington on Wednesday. However, many investors already take this scenario for granted.

The U.S. releases further data, including March’s retail sales, later in the day.

Bitcoin traded near the $64,895.22 record high it hit on Wednesday. Shares in cryptocurrency platform Coinbase Global Inc. (NASDAQ:COIN) closed at $328.28, giving the firm a market capitalization of $65.39 billion in its volatile Nasdaq debut on Wednesday.

Dollar Up, But Near Three-Week Low as Investors Buy Fed’s Dovish Stance
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email